"Un-carrier" T-Mobile is launching a new trade-in program for Apple's (NASDAQ:AAPL) iPhone. Prospective switchers can bring in previous-generation models to offset the upfront cost of a new iPhone 5 on T-Mobile, requiring $0 down. Sprint Nextel's (NYSE:S) prepaid brand, Virgin Mobile, recently launched an aggressive switching campaign of its own, offering a $100 credit. However, AT&T (NYSE:T) and Verizon (NYSE:VZ) still have significant network advantages with LTE coverage, which is a key selling feature of the iPhone 5.

In the video below, Fool contributor Evan Niu, CFA, lays it all out for investors.

Fool contributor Evan Niu, CFA, owns shares of Apple and Verizon Communications. The Motley Fool recommends Apple. The Motley Fool owns shares of Apple. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.